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Message: Chinese Mining and Mine-Safety Industry
FYI
Some dated but relevant information about the Chinese Mining and Mine-Safety Industry courtesy of iPackets International (a competitor) - Note that this information is current up to 2005/2006.
Source: http://www.ipackets.com/investors-ma...
The Market in China
China has approximately 300,000 working mines and the Chinese mining industry grew by 26.7% in 2005, reaching a value of $352.1 billion. China has over 25,000 coal mines and produces 35% of the world's coal.
Such fast growth, however, has come at a steep price. Over 6,000 people died in accidents last year, making the Chinese mining industry the world's deadliest. Recently, government officials have pledged safety reforms. In August 2006, In August 2006, the Chinese State Administration of Work Safety (SAWS) announced that it will spend $60 billion on safety initiatives over the next five years.
PRESENTATION
Some dated but relevant information about the Chinese Mining and Mine-Safety Industry courtesy of iPackets International (a competitor) - Note that this information is current up to 2005/2006.
Source: http://www.ipackets.com/investors-ma...
The Market in China
China has approximately 300,000 working mines and the Chinese mining industry grew by 26.7% in 2005, reaching a value of $352.1 billion. China has over 25,000 coal mines and produces 35% of the world's coal.
Such fast growth, however, has come at a steep price. Over 6,000 people died in accidents last year, making the Chinese mining industry the world's deadliest. Recently, government officials have pledged safety reforms. In August 2006, In August 2006, the Chinese State Administration of Work Safety (SAWS) announced that it will spend $60 billion on safety initiatives over the next five years.
PRESENTATION
Background on the Chinese Mining and Mine-Safety Industry
Estimated Size of the Mining Industry in China
Tier Number / Tier Description /Number of Mines
1
Large
Average no. of employees: 2,000
10,000
2
Medium
Average No. of Employees: 1,000
80,000
3
Small
Average No. of Employees: 300
200,000
Estimated Size of The
Mining Industry in China
Mining Industry in China
•According to MBendi, a South African-based research and consulting company, China’s mining industry ranks third in the world with about 80,000 state-owned mining enterprises and 200,000 collectively owned mines
•China is the world’s largest gold producer
•China is the world’s largest coal producer and coal is by far the largest in China
Estimated Size of The
Mining Industry in China
Mining Industry in China
•There are 25,378 coal mines in China of which:
–778 are large state-owned (accounted for 57% of coal output in 2004)
–1,200 medium-sized state-owned mines (accounted for 15% of coal output in 2004)
– 23,400 small township/village coal mines (accounted for 28% of coal output in 2004)
•According to 2005 government statistics, the total number of miners in all mines is 12.2 million: 7 million in coal mines, and 5.2 million in all other mines
Mine-Safety in China
•More than 6,000 miners died in accidents in China last year, according to previously released Chinese government figures. Independent estimates say the real figure could be as high as 20,000
•In August 2006, the Chinese State Administration of Work Safety (SAWS) announced that it will spend $60 billion on safety initiatives over the next five years
Mine-Safety in China
•In March 2005, Chinese Premier Wen Jiabao said that the government will spend this year US$361 million on "safety technologies upgrading" at selected state-owned coal mines
•SAWS said that China reported 80 per cent of the world’s total coal mining-related deaths, although it produced only 35 per cent of the world’s coal
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